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April 20, 2023Currently trading at 1.0977, EUR/USD remains range-bound between 1.0951 and 1.0981.
Euro Zone ECB Publishes Account of Monetary Policy Meeting is next today at 11:30 UTC.
Euro-Dollar upside coincides with further encouraging market factors as Crude Oil Inventories in United States fell short of market expectations (-1 million) with a reading of -4.58 million, continuing the decline from the previous figure of 597,000.
Meanwhile, Euro Zone Consumer Price Index came out at 6.9%, while a consensus of analysts was expecting 6.9%. Germany Producer Price Index published today at 06:00 UTC came out at -2.6%, falling short of the -0.5% projections and continuing its decline from the previous -0.3% figure.
A look at other currencies also shows bullish price action as GBP/NZD gained 0.62% and is currently trading at 2.0171. EUR/NZD is up 0.77%.
Meanwhile, NZD/USD is down 33 pips from the beginning of the session and now trades around 0.617.
Furthermore, the market is looking at Euro Zone ECB Publishes Account of Monetary Policy Meeting scheduled to come out today at 11:30 UTC. Euro Zone Manufacturing PMI figure is projected at 48. It previously stood at 47.3; data will be released tomorrow at 08:00 UTC. France Services PMI figure is projected at 53.4. It previously stood at 53.9; data will be released tomorrow at 07:15 UTC.
The currency pair has been trending positively for about a month. Euro-Dollar is now trading 0.82% away from its significant high of 1.1048 first tested 7 days ago.
